A recent report by UMAS and UCL has revealed that greenhouse gas (GHG) emissions from international shipping have remained at 2008 levels during the 2018-2022 period, despite the industry’s commitments to reduction. The report, which extends the analysis of the IMO’s Third and Fourth GHG Studies, attributes this stagnation to a slowdown in transport demand growth and a plateau in carbon intensity improvement.

The report finds that the COVID-19 pandemic significantly impacted global trade and shipping, leading to a mere 1.4% annual increase in transport work and Deadweight tonnage (DWT) nautical miles from 2018 to 2022, compared to a 3% annual growth in the previous decade. Similarly, carbon intensity reduction slowed to 1.1% per annum, down from an average of 3% in the 2008-2018 period.